Category: Alkido Pharma

NEW YORK, May 4, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the distribution date for the previously announced distribution to our stockholders of shares of Hoth Therapeutics, Inc. (“Hoth”) will not be taking place today, May 4, 2020, because of the requirement that the shares be registered prior to distribution. AIkido will provide a distribution date for the distribution of the shares promptly once the registration statement is declared effective. The Company is waiting on (“Hoth”) to seek acceleration of the registration statement, which is a prerequisite for distribution. We hope for this to be done shortly and will update shareholders as soon as possible. The record date has not changed and individuals who were shareholders at 4pm on April 30^th, 2020 will be receiving the dividend. No further action is required.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Inc.

NEW YORK, April 30, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced a reminder to the Company’s stockholders that today, April 30, 2020, is the record date for the previously announced distribution to our stockholders of shares of common stock of Hoth Therapeutics, Inc. (“Hoth”).  Each stockholder of the Company, as of 4:00 p.m. Eastern Time on April 30, 2020, is entitled to receive one (1) share of Hoth common stock for every five hundred (500) shares of AIkido common stock held.  The original ratio of seventy (70) shares was changed to reflect the increase in the number of Company shares issued and outstanding, as of today’s record date.  The Company expects to distribute the shares of Hoth common stock on May 4, 2020.

The Company will not distribute fractional shares of Hoth common stock, and any fractional shares will be rounded down to the nearest whole share.  Stockholders of the Company do not need to take any action to receive the shares of Hoth common stock, other than be a stockholder of record on April 30, 2020, and stockholders do not need to pay any consideration for, surrender or exchange shares of AIkido common stock.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Inc.

NEW YORK, April 15, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”), a technology development company committed to the fostering of innovative ideas, announced today the closing of its previously announced registered direct offering with several institutional and accredited investors of 14,000,000 shares of its common stock at a purchase price of $1.00 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company from the offering totaled $14.0 million, before deducting placement agent fees and other offering expenses.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The shares of common stock described above were offered by AIkido pursuant to a shelf registration statement on Form S-3 (No. 333-220632), which was previously declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus supplement and the accompanying prospectus relating to the common shares was filed by AIkido with the SEC and can be obtained at the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, New York 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

This press release does not constitute an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

To the extent any statements made in this news release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the Company’s plans, objectives, expectations  and intentions with respect to future operations and products, the potential of the Company’s technology and product candidates, the anticipated timing of future clinical trials, and other statements that are not historical in nature, particularly those that utilize terminology such as “would,” “will,” “plans,” “possibility,” “potential,” “future,” “expects,” “anticipates,” “believes,” “intends,” “continue,” “expects,” other words of similar meaning, derivations of such words and the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause AIkido’s actual results to be materially different than those expressed in or implied by such forward-looking statements. Particular uncertainties and risks include: the use of proceeds of the offering; market and other conditions; the difficulty of developing pharmaceutical products; obtaining regulatory and other approvals and achieving market acceptance; general business and economic conditions; the Company’s need for and ability to obtain additional financing or partnering arrangements; and the various risk factors (many of which are beyond AIkido’s control) as described under the heading “Risk Factors” in the preliminary prospectus and AIkido’s filings with the United States Securities and Exchange Commission. All forward-looking statements in this news release speak only as of the date of this news release and are based on management’s current beliefs and expectations. AIkido undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

 

 

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SOURCE AIkido Pharma Inc.

NEW YORK, April 14, 2020 /PRNewswire/ — AIkido Pharma Incorporated (Nasdaq: AIKI) today announced that it has secured an exclusive world-wide license for a broad spectrum antiviral drug platform. The licensed technology is a broadly acting pan-viral inhibitory compound with efficacy against multiple viral pathogens. The technology works to inhibit replication of multiple viruses including Influenza virus, SARS-COV (coronavirus), MERS-COV, Ebolavirus and Marburg virus.

Anthony Hayes, CEO of AIkido stated, “This license is a follow up to our March 6, 2020 press release ‘Treatment for Coronavirus Optioned by Spherix.’ We continue to vet the technology we optioned, but this antiviral drug platform technology we’ve licensed is broader with more potential applicability, while also coming from the same lead inventors and institution. We are always seeking to acquire the best technology to drive shareholder value. We will continue to investigate the technology covered by our option and we will be providing additional information about this antiviral platform shortly. Working to develop technology to help with the current pandemic, as well as other possible viruses that may impact us in the future, is our goal for this technology.”

About AIkido
AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Inc.

NEW YORK, April 14, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”), today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 14,000,000 shares of AIkido’s common stock, at a purchase price of $1.00 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about April 16, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to AIkido from this offering are expected to be $14.0 million, before deducting the placement agent’s fees and other estimated offering expenses payable by AIkido. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

The shares of common stock are being offered by AIkido pursuant to a “shelf” registration statement on Form S-3 (File No. 333-222488) previously filed with the Securities and Exchange Commission (the “SEC”) on January 9, 2018 and declared effective by the SEC on January 19, 2018. The offering will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC.  Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Particular uncertainties and risks include: our ability to satisfy the closing conditions of the registered direct offering, the closing of the registered direct offering; the use of proceeds of the offering and market and other conditions. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

 

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SOURCE AIkido Pharma Inc.

NEW YORK, March 27, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the record date and distribution date to our stockholders of shares of Hoth Therapeutics, Inc. (“Hoth”) will be deferred because of the requirement that the shares be registered prior to distribution.  AIkido will provide a record date and distribution date for the distribution of the shares promptly once the registration statement is declared effective and will issue an update to shareholders in two weeks on the status of this matter.

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Inc.

NEW YORK, March 26, 2020 /PRNewswire/ — AIkido Pharma Incorporated (Nasdaq: AIKI) today provided an update onto shareholders as follows:

Dear Fellow Shareholder,

AIkido Pharma is financially secure.  We raised sufficient capital to both survive and potentially thrive during the turbulent times brought about by the COVID-19 virus.  In fact, we are in a position to acquire additional assets moving forward and we are investigating other opportunities.  When this crisis passes, which it will, it is my goal for AIkido to be stronger and more diversified than when the crisis started.

We have received many questions about the COVID-19 option previously announced.  As we said in our March 18, 2020 press release, we are actively investigating the technology.  If the technology is viable, and reasonable licensing terms that inure to the benefit of our shareholders can be negotiated, we will move forward with development.  But the converse is also true, and each shareholder should understand that we may not secure a license on the previously announced technology.  There are several research projects ongoing regarding potential treatments for COVID-19, and each of these projects requires funding. We are continuing to vet opportunities in this area.  We remain committed to keeping you informed and will provide information as it comes available.

We have also received questions about the timing of the Hoth stock dividend.  We are anxious to deliver these shares to our shareholders, but it’s not the Company that is holding up the distribution.  We are working with Hoth and the appropriate regulatory agencies to effectuate the transfer.  As soon as we are able, we will make this distribution.  We are aware that this has been a slow and potentially frustrating process.  I apologize for any frustration you are experiencing, and I assure you that I am committed to delivering this dividend as soon as we are able.

Finally, AIkido is being proactive in this time of crisis.  We accept the challenge issued to companies and we pledge to not layoff any employees as a result of the current pandemic.  For the Company, this includes not laying off our contract employees.  We are further looking to see if we can reach out and help our communities at this time of crisis.  We have begun discussions with other businesses to investigate avenues of help, such as short-term hiring of newly unemployed workers, to assist our fellow Americans.  Whether you define this as a moral duty, a civic duty, or just the right thing to do, we are doing it.  Again, our decisive and strategic decision to raise capital at the start of the crisis, has put us in a position to help those less fortunate, and to survive this crisis stronger than when the crisis started.

I want to thank each of you for being a shareholder and we will be providing more information about these issues as they become available.

Sincerely,

Anthony Hayes

About AIkido

AIkido was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Incorporated

NEW YORK, March 23, 2020 /PRNewswire/ — AIkido Pharma Inc. (NASDAQ: AIKI) (“AIkido” or the “Company”) today announced that its Board of Directors (the “Board”) has acted to preserve and protect the Company’s valuable income tax net operating loss carryforwards (“NOLs”) by adopting a stockholder rights plan in the form of a Section 382 Rights Agreement, dated as of March 23, 2020, by and between the Company and VStock Transfer LLC (the “Stockholder Rights Plan”).

AIkido estimates that its NOLs total over $55 million as of March 31, 2020, which could be used to offset AIkido’s future taxable income and therefore reduce its federal and state income tax liabilities. AIkido’s Stockholder Rights Plan is similar to plans adopted by numerous other public companies with significant NOL tax assets.

AIkido’s ability to use these tax assets and others which may be generated would be substantially limited in the event of an “ownership change” under Sections 382 and 383 of the Internal Revenue Code and related U.S. Treasury regulations. In general, an ownership change would occur if AIkido’s stockholders who own 5% or more of AIkido’s common stock increase their collective ownership by more than 50 percentage points within a rolling three-year period. The Stockholder Rights Plan is intended to reduce the likelihood of an unintended impairment of AIkido’s valuable NOL tax assets.

To implement the Stockholder Rights Plan, the Board declared a non-taxable dividend of one preferred share purchase right for each outstanding share of its common stock. The rights will be exercisable if a person or group acquires 4.99% or more of AIkido common stock. AIkido’s existing stockholders that beneficially own in excess of 4.99% of the common stock will be “grandfathered in” at their current ownership level and the rights then become exercisable if those stockholders acquire any additional shares. If the rights become exercisable, all holders of rights, other than the person or group triggering the rights, will be entitled to purchase AIkido common stock at a 50 percent discount. Rights held by the person or group triggering the rights will become void and will not be exercisable.

The Stockholder Rights Plan will not prevent a takeover, but should encourage anyone seeking to acquire the Company to negotiate with the Board prior to attempting a takeover. The Stockholder Rights Plan contains an exception for offers that meet certain requirements that are made for all of the shares of common stock of the Company and that treat all stockholders equally.

The rights issued under the Stockholder Rights Plan will expire on the close of business on the first day after March 23, 2023. The rights may also expire on an earlier date if certain events occur, as described more fully in the Stockholder Rights Plan that the Company will file with the Securities and Exchange Commission.

Additional information regarding the Stockholder Rights Plan will be contained in a Form 8-K filing with the Securities and Exchange Commission.

About AIkido

AIkido was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

 

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SOURCE AIkido Pharma Inc.

NEW YORK, March 10, 2020 /PRNewswire/ — Spherix Incorporated (Nasdaq: SPEX) today provided an update on the recently announced treatment for Coronavirus technology optioned by the Company.

As noted in patent number 10,434,116 “Methods of Treating Coronavirus Infection,” the technology provides methods for treating a coronavirus infection.  The technology was developed by researchers by first using computers to screen 290 drugs for antiviral activity against SARS-CoV and/or MERS-CoV. Pharmacological classes of compounds were identified as showing antiviral activity against either or both MERS-CoV and SARS-CoV, with no or low toxicity. These pharmacological classes include neurotransmitter inhibitors, kinase signaling inhibitors, estrogen receptor inhibitors, DNA metabolism inhibitors, and anti-parasitic agents.

The work showed that certain compounds, alone or in combination with the antiviral drugs, can have a therapeutic effect against SARS and MERS as measured by in vitro antiviral activity assays and in in vivo rodent and non-human primate models of Coronavirus infection.

This invention was made with government support under Grant Number AI095569 awarded by the National Institutes of Health. As a result, the NIH has certain rights in the invention.  Under the Option, Spherix has until the end of May of 2020 to complete its due diligence and execute a license agreement for commercial development.

About Spherix

Spherix Incorporated, a Delaware corporation (the “Company”), was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipe to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations: Hayden IR

Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com

Spherix: Phone: 212-745-1373

Email: investorrelations@spherix.com
www.spherix.com

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SOURCE Spherix Incorporated